How to choose a Finance Partner
Unlike most suppliers, your finance partner
is in direct contact with you customers.
We suggest you 'interview' candidates to make sure
they're good representatives of your business.
Following are questions to help that discussion:
Does your company fund $37,000 Wizbangs?
How long have you been funding equipment?
We think 3+ years should do it, but newcomers might deserve a chance.
How many lenders do you represent?
We think 5-9 is a good range to help place 95% of deals based on credit-worthiness
– many say “30+ different lenders”, but if that’s true they probably don’t know any of them very well - or they're just trying to impress you.
What is your average transaction size?
Not critical either – $5k to $2MM for EFN, with most $20k to $250k.
What is your role in the company?
EFN is a small company (with a great network of lenders, since 2003)
You'll work directly with a principal - and that brings several advantages:
Your EFN contact;
- Manages every step, from Application through Funding
- Speaks directly to your customer - and the key staff of our lenders (we learn a LOT this way)
(in larger companies, reps manages little/none of the process, and can't do much to help it)
- Genuinely cares about the success of our Vendors (rather than making quota, we're here for the long-term)
What do you like most about the equipment funding industry?
is in direct contact with you customers.
We suggest you 'interview' candidates to make sure
they're good representatives of your business.
Following are questions to help that discussion:
Does your company fund $37,000 Wizbangs?
How long have you been funding equipment?
We think 3+ years should do it, but newcomers might deserve a chance.
How many lenders do you represent?
We think 5-9 is a good range to help place 95% of deals based on credit-worthiness
– many say “30+ different lenders”, but if that’s true they probably don’t know any of them very well - or they're just trying to impress you.
What is your average transaction size?
Not critical either – $5k to $2MM for EFN, with most $20k to $250k.
What is your role in the company?
EFN is a small company (with a great network of lenders, since 2003)
You'll work directly with a principal - and that brings several advantages:
Your EFN contact;
- Manages every step, from Application through Funding
- Speaks directly to your customer - and the key staff of our lenders (we learn a LOT this way)
(in larger companies, reps manages little/none of the process, and can't do much to help it)
- Genuinely cares about the success of our Vendors (rather than making quota, we're here for the long-term)
What do you like most about the equipment funding industry?